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The Civil Society for Poverty Reduction (CSPR) says economic diversification is a must for the country because depending entirely on the mining sector is not sustainable. According to CSPR vice-board chairperson, Partner Siabutuba, it is not enough for the Government to continually say that the economy would be diversified when …

By Boniface Mwila As the commodity price slump drags on, Zambia shares the inevitable pain with the world’s other resource-dependent economies – and is especially hard hit by its ‘mono-commodity’ status as a nation so dependent on copper. The low copper price – which is leading to the closure of …

Tanzania will pay 6 billion shillings ($2.71 million) to bail out the Tanzania-Zambia Railway Authority (TAZARA), a railway firm that connects Africa’s two biggest copper producers to Tanzania’s Indian Ocean port, a company spokesman said. The loss-making railway line is a key route for copper exports through the Tanzanian port …

Zambia’s president has said he will not allow Glencore’s Mopani unit to lay off workers as the mining and trading company deepens cuts in copper output to support flagging prices. “I am here because of the problems in the mines. I am going to meet Mopani management from here. I …

The Bank of Zambia raised its benchmark lending rate by a record 3 percentage points to rein in inflation after the currency of Africa’s second-biggest copper producer lost almost half its value this year. The central bank increased the policy rate to 15.5 percent from 12.5 percent, Governor Denny Kalyalya …